VisMin developer Cebu Landmasters Inc. (CLI) generated ₱5 billion in sales as its newest premier residential project in Cagayan de Oro (CDO) nearly sold out just two weeks after its launch.
In a disclosure to the Philippine Stock Exchange, the firm said the One Manresa Place earned ₱4 billion during its two-day launch event and reached over ₱5 billion in sales or 823 units sold in two weeks, highlighting a sustained appetite for high-value residential offerings outside Metro Manila.
“VisMin real estate demand remains strong, with nearly half of the country’s 6.7 million housing backlog concentrated in the region, reflecting robust market needs and signaling its continued rise as a hotspot for investment and economic development in the country,” said CLI Chairman and CEO Jose Soberano III.
One Manresa Place, the first residential tower within the 14.6-hectare Manresa Town, is nearly 90 percent sold, reflecting strong market confidence in CLI’s new township development in Northern Mindanao.
Designed for best-in-class uptown living, this three-tower development is integrated with the new Xavier University Masterson Campus, offering students convenient residential options and easy access to commercial and office spaces.
The university town concept fosters synergies that benefit Xavier University and the surrounding uptown CDO community.
“We are energized by the overwhelming response to One Manresa Place. This affirms the region’s readiness for more high-value developments, proving that demand in VisMin remains strong and underserved.
“It reinforces our strategy of building thoughtfully planned communities in key cities that are ripe for growth and long-term value creation,” noted Soberano.
Set to be completed in 2030, One Manresa Place will feature studio, one-bedroom, and two-bedroom units tailored to contemporary urban living. The units all have floor-to-ceiling windows, private balconies, and flexible spaces to attract tenants and buyers, including students, professionals, and families.
The development also showcases CLI’s hallmark of sustainable and community-centered living, featuring sky gardens, wellness facilities, co-working spaces, a chapel, retail podium, and a skybridge that links key township areas.
Over 63 percent of the township is dedicated to open spaces, including a protected forest zone, alongside green building features such as rainwater harvesting systems and energy-efficient design.
Soberano said “The strong performance of One Manresa Place mirrors a broader trend across CLI’s VisMin portfolio, where residential projects in various stages of development across 17 key cities in the region are already 94 percent sold out.
“This reflects sustained demand and deep market acceptance of CLI’s offerings.”
According to Colliers Philippines’ 2024 Real Estate Market Study, CLI continues to strengthen its position as the #1 residential developer in Visayas and Mindanao, with its market share rising from 15.6 percent to 19.3 percent year-on-year, outpacing national competitors.
To meet the growing demand, CLI is ramping up expansion plans for residential, hospitality, and commercial projects in key VisMin cities.
In Davao, institutional buyers such as Insular Life and BDO have recently acquired lots in CLI’s Davao Global Township, signaling continued investor confidence.
In Cebu, landmark projects such as Masters Tower Cebu and Sofitel Cebu City have recently topped off.